A cryptocurrency company supported by U.S. President Trump and his family, World Liberty Financial, reported that a company based in the UAE has purchased $100 million worth of platform governance tokens WLFI.
In an announcement on Thursday, World Liberty and Aqua1 Foundation, which describes itself as a "Web3 native fund," stated that the $100 million transaction "aims to help accelerate the creation of a blockchain-driven financial ecosystem, focusing on blockchain development, real-world asset (RWA) tokenization, and stablecoin integration, with the goal of setting a new benchmark for global capital efficiency."
This acquisition makes Aqua1 a larger holder of WLFI tokens than Tron founder Justin Sun, who invested $30 million in the project in November.
Aqua1 founding partner Dave Lee stated, "WLFI and Aqua1 will jointly identify and nurture high-potential blockchain projects. The USD1 ecosystem and RWA pipeline of WLFI embody the trillion-dollar structural shift opportunity we seek to catalyze—architects combining traditional capital markets with decentralized primitives to redefine global financial infrastructure."
Due to the Trump family's association with the company, World Liberty has already come under scrutiny from U.S. lawmakers. Trump's three sons are listed as co-founders of the company, and in June, the president disclosed $57.4 million in revenue related to WLFI, as well as personal holdings of 15.75 billion governance tokens.
The Trump family's cryptocurrency business has faced criticism previously, as Eric Trump announced in May that the Abu Dhabi-based investment firm MGX would use the platform's USD1 stablecoin to settle a $2 billion investment in Binance.
This move comes as Congress weighs regulatory measures on stablecoin payments, raising concerns among Democratic lawmakers that presidential support could benefit the family's business relationships.
During a Senate Appropriations Committee hearing on Wednesday, U.S. Attorney General Pam Bondi sidestepped Oregon Senator Jeff Merkley's questions about the president's association with World Liberty Financial.
Merkley stated, "I think it's very important for the leaders of the U.S. Department of Justice to be aware of foreign influence. I encourage you (Bondi) to address this topic and not to think that those of us who are concerned about this (both Democrats and Republicans) find it offensive that Americans should make American decisions rather than purchasing foreign influence through cryptocurrency."
Several U.S. lawmakers have suggested that Congress take different legislative paths to address potential conflicts of interest in the cryptocurrency industry. These proposals include amendments to the "U.S. Stablecoin National Innovation and Establishment Act" (GENIUS Act) and separate legislation to prevent the president and future leaders from investing in digital assets during their terms.
Related: Trump-backed World Liberty to release stablecoin audit report, making WLFI transferable
Original article: “UAE Company Invests $100 Million in Trump Family-Backed World Liberty Financial”
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